Medical Finance: The Costs of Illness And How You Can Get Help

A document published by the CDC highlights the difficulties that families across the United States are experiencing in connection to rising healthcare costs. This document titled Financial Burden of Medical Care stated that during the first six months of the year 2011 one third of American families were experiencing the burden of covering medical expenses. One in 10 individuals was not able to cover their medical expenses at all. This document continues show the correlation that exists between increased age, increased medical bills, and poverty. 20 percent of the nation’s poor that were over 65 lived in families that had a history of medical bills that they were unable to pay. Let us take a few minutes to examine the costs of illness and how you can get help.

How Rising Medical Prices Affects Everyone
One does not need to be bombarded with statistics to understand the toll that medical expenses are having on people. A simple conversation at the local café, bar, or dog park shows very clearly that in one way or another everyone is affected by the rising cost of medical care.

Something that is making the situation dire for many is the fact that the recession has caused them to lose their jobs. With their jobs went their health insurance. Now, they may be working at a new company that does not offer comprehensive health insurance. Because they are working, their income prevents them from gaining access to certain government programs that are set aside for low income individuals. So these individuals live every day with the fear that an unforeseen event, an accident, or sudden illness might plunge them into financial destitution.

Help Dealing with Medical Bills
As the amount of people struggling to cover medical bills grows, so to have the initiatives put forth by both the government and private institutions in order to help people with the struggles. Medicaid for example is an option that is available for individuals who are low income.

Medicaid is a program that is overseen by the federal government, but each state is able to administer it according to the needs of their state. While Medicaid is specifically designed to help individuals with a low income, in certain circumstances individuals who have extremely high medical bills when compared to their income might be able to qualify.

Every state in the United States takes the welfare are there children seriously. For this reason, in every state there are health insurance plans specifically designed to help children in lower income families that cannot cover the expense of their medical bills.

Some communities and local governments have worked together with private businesses to set up initiatives for individuals who are struggling with medical bills. Information on these initiatives set up by private companies and nonprofit groups can be found by speaking with the local Social Security agency or the local county representative.

At times, financial aid can be found from the hospital itself. This is especially the case when dealing with nonprofit facilities. Many of these nonprofit facilities have set up charity programs designed to help reduce and cover some medical bills for families. Often times, eligibility is determined by examining a person’s income and their savings.

After examining the cost of medical expenses and how you can get help, a person may walk away feeling frustrated. Medical expenses are extremely high, and they continue to rise. It is likely that in our lifetime every single one of us will experience illness. It is nice to know that when these situations arise, there are places to turn in order to get help with medical bills.

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